Developed Countries
According to BCA Research’s US Investment Strategy service excess pandemic savings are far more evenly spread than most investors realize, and all but the households at the bottom of the distribution are swimming in cash. The team has used the savings rate…
This week we present our Portfolio Allocation Summary for March 2023.
A run of hot January data shook up financial markets, but we think they overreacted. We remain constructive on equities and the economy in the near term.
Last week’s Tokyo CPI release showed the first signs of modest disinflationary pressures in the Japanese economy. Headline inflation fell from 4.4% to 3.4%, in February. The ex-fresh food component also fell. That said, the core measure, that strips out both…
NOK is the worst performing major currency year-to-date, down more than 6% against the dollar and 5% against the euro. That is on top of a nearly 10% drop in 2022. Notably, as a major oil producer, and increasingly a natural gas exporter, NOK has not…
BCA Research’s Global Investment Strategy service’s view continues to be that inflation, rather than recession, is the bigger risk for 2023. Nevertheless, even in the US where inflationary pressures are most acute, there are still significant deflationary…
In this week’s report, we speculate on the evolution of euro trading in light of the near-term hiccups, but tremendous value that can be unlocked for longer-term investors.
In this week’s report, we speculate on the evolution of euro trading in light of the near-term hiccups, but tremendous value that can be unlocked for longer-term investors.
Revised Q4 productivity and unit labor cost estimates from the US Bureau of Labor Statistics add to the string of data released over the past month suggesting that the Fed’s task of reining in inflationary pressures is not over yet. Nonfarm productivity…
Since the S&P 500 slid into bear market territory in June 2022, clients have frequently asked when the right time is to increase equity allocations again. A widely followed measure of investor sentiment suggests it is too early to do so. The difference…